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Economics Past Questions and Answers

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Economics Questions

Question 1071:

Budget deficit is the amount by which?

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A Total expenditure exceeds revenue
B Recurrent expenditure exceeds revenue
C Capital expenditure exceeds revenue
D Recurrent expenditure exceeds capital expenditure

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Question 1072:

The average tax rate is defined as

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A Total tax rate less the marginal tax rate
B The tax rate which applies to additional value income
C The ratio of total taxes paid to total income
D Marginal tax rate for being progressive

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Question 1073:

Personal distribution of income implies?

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A The way in which income is distributed among specific households or spending units
B The distribution of income according to basic resources
C Dividing income according to industries
D Dividing income between personal taxes, consumption expenditures and savings

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Question 1074:

One of the advantages of international trade is that it?

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A Increases world output
B Encourages economic independence among nations
C Restricts spread of technical knowledge
D Promotes self-reliance and satisfaction with only what can be produced internally

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Question 1075:

there is an improvement in the terms of trade of a country if?

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A A large quantity of exports is given up to obtain a unit of imports
B The volume of exports is greater than the volume of imports
C A smaller quantity of exports is given up to obtain a unit of imports
D The value of exports is greater than the value of imports

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